PATRIZIA sells two Madrid logistics assets for around EUR 150 million
- Two assets, spanning 110,000 sq m, include world class tenants such as Amazon
- PATRIZIA is committed to its large remaining Spanish logistics portfolio of nearly half a billion EUR
Augsburg / Madrid, 17 November 2020. PATRIZIA AG, a leading partner for global real assets, has sold two logistic assets for around EUR 150 million in the greater Madrid area to Real I.S., a real estate investment manager.
PATRIZIA originally bought the two assets in the Madrid districts of Getafe and Torrejón, in 2015/16 and since then has transformed the sites into prime logistics facilities, attracting tenants such as Amazon, Leche Pascual and GM Food.
Eduardo de Roda, PATRIZIA Country Manager for Iberia, said: “This landmark deal shows that thanks to our strong local expertise, we acquired these assets at just the right time, in the right place. We have once again demonstrated our ability to create sustainable value in our Iberian portfolio through our pro-active and expert asset management. We remain committed to our logistics assets which make up around a third of our entire real estate portfolio in Spain. Despite the challenging market conditions, we are fully on track to deliver on our local business growth objectives for Iberia.”
The asset in Getafe comprises a single 60,000 sq m warehouse leased to Amazon. The one in Torrejón spans two multi-tenant warehouses with a total surface of around 50,000 sq m and is currently leased to leading Spanish multinationals such as Leche Pascual and GM Food.
After this transaction, PATRIZIA’s logistics portfolio in Spain still comprises more than 500,000 sq m and assets under management valued at nearly half a billion EUR. The value of PATRIZIA’s assets under management in Spain and Portugal currently stand at over EUR 1.3 billion.
PATRIZIA: A leading partner for global real assets
As a company with operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 36 years. PATRIZIA manages more than EUR 46 billion in assets and employs over 800 professionals at 24 locations worldwide. Through its PATRIZIA Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped over 220,000 children in need worldwide over the last 20 years. You can find further information at www.patrizia.ag
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